Subject: File No. S7-12-06
From: Richard J O'Sullivan, CCNP

September 2, 2006

I believe our markets are in dire straits. Corruption in Wall Street is at an all time high. The SEC is a failed body as it consistently failed to protect the people from the insider trading, hedge fund manipulation so pervasive in the market today.
Stocks no longer have valuation, as conterfeit shares are in abundance in the market. If this were real estate, it would be the equivalent of multiple deeds sold the a single property.
The brokerages are so powerful they have continually balked at regulation SHO. When stocks remain on this list day after day without punishment from the relavant bodies, then I can only imagine what is being committed by hedge funds. There conduct will dwarf the crimes regulation SHO was designed to eradicate.
I have lost confidence in the American markets. I no longer invest.

Tired of the cover ups

Richard O'Sullivan